The survey on the Relationship between Investor Characteristics and their Loss Aversion in Tehran Stock Exchange

Subject Areas : Journal of Investment Knowledge

mohammad hassan ebrahimi sarveolia ¹ , Mohammad Javad Salimi ² , GHasem Bolo ³ , Hamze Gouchifard ⁴

1 - Assistant Professor, Faculty of Accounting and Management, Allameh Tabataba'i University,Tehran, Iran
2 - Assistant Professor of Accounting, Faculty of Management and Accounting, Allameh Tabataba'i University, Tehran, Iran
3 - Associate Professor, Department of Accounting, Faculty of Management and Accounting, Allameh Tabataba'i University, Tehran, Iran
4 - Phd Student of Financial Management, Allameh Tabataba'i University, Tehran, Iran

Received: 2019-10-07 Accepted : 2019-12-18 Published : 2022-09-23

Keywords: Loss Aversion Coefficient, Reference point, Prospect theory,

Abstract :

The survey on the Relationship between Investor Characteristics and their Loss Aversion Coefficient in Tehran Stock ExchangeAbstractThe present study, after calculating the Loss aversion coefficient of active investors in Tehran Stock Exchange, investigated the relationship between variables of gender, analysis tools, age, marriage, experience and education with Loss Aversion Coefficient by pooling regression method. The sample included 403 investors who responded twice to research questions within 6 months.The results showed that there is a significant relationship between gender, type of analysis and education with investors Loss Aversion Coefficient, these variables are inversely correlated with the Loss Aversion Coefficient in Tehran Stock Exchange, in other words, females are statistically more loss averse than males, also loss aversion decrease with increasing education more over fundamental analysts are more loss averse than technical analysts.

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